[Debate] Gigaba: SA needs black capitalist class to push real transformation

[Riaz K Tayob]

Since we are living in the end of times, I do not see a problem with 
these sentiments if understood as, without black ownership/stake in the 
economy politics cannot be stable.

The problem is that the state seeks to build a capitalist class with a 
neoliberal agenda instead of what the East Asians or China did while 
they were integrating further into the world economy, focusing on 
productive capacity in the real economy (recognising that the real is 
dependent on the virtual).

Given the dominance of the players in politics, despite the constraints, 
what we see empirically is the creation not of capitalist class but a 
rentier one. And that rentier class charges the highest telecoms, 
increases "competitiveness" by increasing the costs of public use of 
infrastructure, pursues a financing for development model that is 
subject to enormous currency risk...(as if this will not affect our 
productive structure). Despite corruption in East Asia the path pursued 
had a wage rising effect in various sectors where we have have had 
jobless growth with marginal increases (for the bulk of workers) - which 
was  a success for MinFin.


On 2011/11/02 07:42 AM, grinker at mweb.co.za wrote:
>
> Need and labour are thus elevated into this universality, and this 
> creates in a great nation an immense system of commonality 
> /(Gemeinschaftlichkeit)/ and mutual dependence, a life of death moving 
> within itself (/ein/ /sich in sich/ /bewegendes Leben des Toten). - 
> Hegel, /Realphilosophie/ I
>
> /
>
> *SA needs black capitalist class to push real transformation*
>
> *Malusi Gigaba, Public Enterprises Minister, Business Report, 2 
> November 2011*
>
>
-------------- next part --------------
An HTML attachment was scrubbed...
URL: http://lists.fahamu.org/pipermail/debate-list/attachments/20111102/d7534c85/attachment.htm